House prices fell 1% in 2012, says Nationwide

That fall reversed the 1% increase in prices recorded in 2011 and suggest conditions remain fragile. The typical UK property is now worth £162,262, according to the lender. House price movements varied regionally, with values in England dropping by just 0.4% in 2012, while Wales saw a fall of 2.7%, Scotland a loss of 3.3% and Northern Ireland witnessed the greatest annual decline in average prices, losing 8.2%. Average prices in Northern Ireland now stand 50% lower than their 2007 peak. Within England the North/South divide continued to grow throughout the year, with the price of a...